NO.PZ2018110601000008
问题如下：
Which of the following is mostly likely the reason why the equities have a wider rebalancing range than the other asset classes?
选项：
A. The investor is risk averse.
B. The equities has high correlation with other asset classes.
C. The equities has low transaction costs compared to other asset classes.
解释：
B is correct.
考点：影响rebalancing range的因素.
解析：rebalancing corridor width与以下因素正相关：交易成本、税收、风险容忍度、与其它资产类型的相关性。与以下因素负相关：自身的波动率，其它资产类型的波动率。
Equities有更宽的rebalancing corridor width，所以可能的原因为：投资者风险容忍度高，与其它资产类型的相关性高，交易成本偏高。B正确。
何老师课上讲的：相关度高，A价格上涨，BC价格也上涨，A在portfolio中所占的比重变化不大，因此不需要频繁rebalance，所以是wider range。